“We have submitted our interest today, which is the initial bid deadline, and plan to decide whether to make a formal bid after thorough due diligence,” SK hynix said in a statement to the Korean stock exchange, reports Reuters news-agency.

Being a company that offers a full specter of memory solutions, including all types of dynamic random access memory (DRAM), NAND flash and others, Hynix does not necessarily need Elpida to boost its portfolio in a bid to improve its competitive positions. Nonetheless, the company is clearly not interested in strengthening Micron or Toshiba, which is why it has to fight for Elpida.

Elpida, which is bankruptcy process right now, will stop accepting bids from potential strategic investors at the end of April and will select the investor in early May.